Nigeria has emerged third most laggard country in terms of lateness in tax payment compliance.
This was revealed in an interactive table that shows the ‘ease of paying taxes’ ranking and the three sub-indicators results for 189 economies.
Tagged ‘the changing face of tax compliance in 189 economies worldwide’ Paying Taxes 2015 measures the ease of paying taxes across these economies by assessing the time required for a case study company to: prepare, file and pay its taxes, the number of taxes that it has to pay, the method of that payment and the total tax liability as a percentage of its commercial profits.
It was revealed that it takes the Nigerian taxpayer an average of 908 hours to comply, followed by Bolivia about 1,025 hours, and the worst being Brazil- about 2,600 hours.
Out of the 189 economies, Nigeria, ranks low at 179 with total tax rate at 32.7 per cent.
Nigeria ranks below other major Africa countries, like South Africa which ranks 19 with 28.8 per cent total tax rate, and compliance hours of 200.
Ghana ranks 101, with 33.3 per cent in total tax rate, and 224 hours compliance time. Kenya ranks 102 with 202 hours in compliance time.
The country’s total tax rate is 38 per cent. Angola ranks 144 with 282 compliance hours and 52per cent in total tax rate.
